Nike is stepping back from China-based production for its U.S. market to dodge tariff-related costs, aiming to shift its sourcing strategy by 2026.
Currently, 16% of Nike’s U.S. shoe imports come from China, but the company aims to lower this figure to the high single digits by May 2026. Executives noted that tariffs could add nearly $1 billion to Nike’s costs. To offset this, the brand plans to restructure its sourcing, raise product prices, and explore corporate cost cuts.
Despite a 12% drop in fourth-quarter sales, Nike beat market expectations, with shares surging 11% in after-hours trading. The running category saw a return to growth, driven by renewed investment in products like the Pegasus and Vomero lines. Nike also increased marketing spend by 15% and hosted a high-profile event featuring star athlete Faith Kipyegon, highlighting its renewed focus on performance sportswear.
Looking ahead, Nike projects a mid-single-digit revenue decline in the first quarter—less severe than analysts’ expected 7.3% dip. However, executives cautioned that recovery in the Chinese market will be slow due to economic challenges and heightened competition.
Israel's defence minister said on Wednesday Israeli troops will not withdraw from southern Lebanon, highlighting a hurdle to Iran-U.S. peace talks, as...
Turkish President Recep Tayyip Erdoğan has said he will “most likely” hold bilateral talks with U.S. President Donald Trump during next month’s...
Russia has called for clarification on whether U.S. President Donald Trump has changed his position on the war in Ukraine following remarks made at th...
The European Union and Taliban officials held talks in Brussels on Tuesday on consular services and the situation of Afghans whose asylum applications...
Iran is preparing for a week-long farewell to former Supreme Leader Ayatollah Seyed Ali Khamenei, who was killed in February during Israeli-U.S. air r...
Israel's defence minister said on Wednesday Israeli troops will not withdraw from southern Lebanon, highlighting a hurdle to Iran-U.S. peace talks, as the top U.S. diplomat tours the Middle East to win over allies sceptical about a proposed deal.
A Ukrainian strike has damaged a school building in a Russian-controlled area of Ukraine’s Zaporizhzhia region, according to local authorities cited by the TASS news agency. No injuries were reported in the incident.
U.S. President Donald Trump said that Iran had agreed to nuclear inspections into "infinity, despite Tehran's denials, and that unfrozen Iranian assets would be used to buy humanitarian supplies from the United States.
Authorities in France are reporting that about 20 people have died over the weekend while swimming in unsupervised areas of rivers, lakes and coastal waters as they tried to escape the heatwave.
Ebola cases in the Democratic Republic of Congo have surpassed 1,000, with health officials warning that the outbreak is spreading rapidly through displacement camps and across borders.
Apple is facing a £3 billion lawsuit in the United Kingdom after a competition tribunal approved a major collective action over its iCloud storage service.
China has opened its market to cashew nuts from all African countries with diplomatic relations with Beijing, removing a long-standing barrier that had restricted exports from much of the world's largest cashew-producing continent.
Media leaders from across Europe gathered in Vienna this week for the annual European Publishing Congress.
Amazon founder Jeff Bezos has said artificial intelligence will ultimately lead to labour shortages rather than widespread unemployment, pushing back against growing fears that AI will replace human workers.
French department store BHV and online fast-fashion retailer Shein have ended their partnership, seven months after the launch of a permanent Shein shop in Paris triggered controversy and widespread criticism.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment